Newgen Software Inc. (NSI), the US-based subsidiary of Newgen Software Technologies, has signed a Master Service Agreement with an insurance company located in the Caribbean. The contract, valued at US Dollars 1,495,000 (approximately Rs. 13.77 Crore), covers the supply, installation, and implementation of the NewgenONE Digital Transformation Platform. The execution period for this international agreement is set for 3 Years.
International Business Expansion Confirmed
Newgen Software Technologies Limited is announcing a significant contract win through its material US subsidiary, Newgen Software Inc. (NSI). The agreement has been secured with an unnamed insurance Company based in the Caribbean region, marking an expansion in international service delivery.
Key Contract Details and Value
The core purpose of the contract is the supply, installation & implementation of the specialized NewgenONE Digital Transformation Platform. The total financial consideration is substantial, quantified at US Dollars 1,495,000 (One Million Four hundred and Ninety-Five thousand US Dollars). This translates to an approximate value of Rs. 13.77 Crore (Indian Thirteen Crore and Seventy-Seven Lakh Only) when converted to INR.
Execution and Services
- Nature of Services: The scope includes License, implementation, Annual Maintenance and Support Services.
- Timeline: The required execution period for the order is established at 3 Years.
- Entity Type: The award is classified as an International contract, with the counterparty situated in the Caribbean.
Confirmation and Compliance
The Company confirms that this transaction is not classified as a related party transaction under the provisions of the Companies Act, 2013. The event’s occurrence date was officially recorded as 03rd March 2026, at 09.08 P.M. (IST).
The announcement was authorized and signed by Aman Mourya, Company Secretary & Head Legal, on behalf of Newgen Software Technologies Limited.
Source: BSE
